SHANGHAI, Jan 25 (SMM) – According to data tracked by SMM, 68 ships arrived at domestic main ports in January 17 – January 23. Arrivals of cargoes are estimated to stand at 10.19 million mt, down 1.08 million mt from the previous week and down 5.19 million mt year on year.
Shipments that departed Australian ports were estimated to decrease 1.16 million mt week on week to 16.81 million mt, up 0.63 million mt on the year. And that from Brazilian ports decreased 710,000 million mt to 4.51 million mt on a weekly basis, down 1.57 million mt on the year. The total arrivals of imported ore decreased significantly from the prior week, and the combined shipments from Australia and Brazil also declined slightly.
The total arrivals dropped significantly from the previous session after continuous gains before. Domestically speaking, the pig iron output dropped as the production in north China was severely restricted amid the heavy air pollution. Meanwhile, considering that the Winter Olympics are about to kick off, pig iron output will keep falling. As such, pre-CNY holiday iron ore prices will maintain the downward trend.
